Better Numbers For Ford

April 25, 2009|From news services

DEARBORN, Mich. — - Ford Motor Co. reported a first-quarter loss of $1.4 billion Friday and said it depleted less of its cash, emphasizing that it doesn't expect to seek any of the government assistance that is keeping the rest of the Detroit Three alive.

The nation's second-largest automaker said it spent $3.7 billion more than it took in during the first three months of the year, far less than the $7.2 billion it spent in the fourth quarter of 2008.

Ford shares climbed 51 cents, or 11.4 percent, to close at $5.00 Friday.

Chief Financial Officer Lewis Booth said the company is confident that it will slow the drain on its cash even more this year, and he said Ford will make it through 2009 without government aid. He would not speculate, however, about 2010.